MetLife Investment Management LLC Sells 470 Shares of Ambarella, Inc. (NASDAQ:AMBA)

MetLife Investment Management LLC lowered its holdings in Ambarella, Inc. (NASDAQ:AMBA) by 2.1% in the 3rd quarter, HoldingsChannel.com reports. The firm owned 21,827 shares of the semiconductor company’s stock after selling 470 shares during the quarter. MetLife Investment Management LLC’s holdings in Ambarella were worth $1,231,000 as of its most recent SEC filing.

Other hedge funds have also bought and sold shares of the company. Dynamic Technology Lab Private Ltd grew its position in Ambarella by 592.2% in the 3rd quarter. Dynamic Technology Lab Private Ltd now owns 25,883 shares of the semiconductor company’s stock valued at $1,460,000 after purchasing an additional 22,144 shares during the period. Mirabella Financial Services LLP acquired a new stake in Ambarella in the 3rd quarter valued at $1,530,000. SWS Partners grew its position in Ambarella by 25.3% in the 2nd quarter. SWS Partners now owns 79,522 shares of the semiconductor company’s stock valued at $4,290,000 after purchasing an additional 16,049 shares during the period. Millennium Management LLC grew its position in Ambarella by 7.0% in the 2nd quarter. Millennium Management LLC now owns 1,447,466 shares of the semiconductor company’s stock valued at $78,091,000 after purchasing an additional 94,257 shares during the period. Finally, Larson Financial Group LLC grew its position in Ambarella by 6,014.3% in the 3rd quarter. Larson Financial Group LLC now owns 856 shares of the semiconductor company’s stock valued at $48,000 after purchasing an additional 842 shares during the period. Institutional investors and hedge funds own 82.09% of the company’s stock.

Insider Transactions at Ambarella

In related news, VP Christopher Day sold 1,278 shares of the business’s stock in a transaction dated Monday, December 2nd. The stock was sold at an average price of $71.61, for a total value of $91,517.58. Following the sale, the vice president now directly owns 17,188 shares in the company, valued at approximately $1,230,832.68. The trade was a 6.92 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Elizabeth M. Schwarting sold 913 shares of the business’s stock in a transaction dated Tuesday, September 24th. The shares were sold at an average price of $54.74, for a total value of $49,977.62. Following the completion of the sale, the director now owns 8,155 shares in the company, valued at $446,404.70. This represents a 10.07 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 15,356 shares of company stock worth $859,210 in the last ninety days. Company insiders own 5.70% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts recently issued reports on AMBA shares. Craig Hallum lifted their price target on shares of Ambarella from $85.00 to $90.00 and gave the company a “buy” rating in a research report on Wednesday, November 27th. Morgan Stanley lifted their price objective on shares of Ambarella from $73.00 to $90.00 and gave the stock an “overweight” rating in a report on Wednesday, November 27th. TD Cowen lifted their price objective on shares of Ambarella from $65.00 to $75.00 and gave the stock a “hold” rating in a report on Wednesday, August 28th. Rosenblatt Securities reaffirmed a “buy” rating and set a $100.00 price objective on shares of Ambarella in a report on Friday. Finally, Westpark Capital reaffirmed a “buy” rating and set a $85.00 price objective on shares of Ambarella in a report on Monday, August 26th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and eight have issued a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $82.92.

Ambarella Price Performance

NASDAQ AMBA opened at $71.70 on Friday. The stock has a market capitalization of $2.96 billion, a price-to-earnings ratio of -18.58 and a beta of 1.68. Ambarella, Inc. has a one year low of $39.69 and a one year high of $81.32. The business’s fifty day moving average is $60.84 and its 200-day moving average is $56.11.

Ambarella Profile

Ambarella, Inc develops semiconductor solutions that enable high-definition (HD) and ultra HD compression, image signal processing, and artificial intelligence processing worldwide. The company's system-on-a-chip designs integrated HD video processing, image processing, artificial intelligence computer vision algorithms, audio processing, and system functions onto a single chip for delivering video and image quality, differentiated functionality, and low power consumption.